The morning of July 6 begins with moderate optimism in the market. Bitcoin (BTC) started with an increase, reaching $63,253 (approximately 4,875,105 rubles) by 07:47 Moscow time. Over the past 24 hours, the asset fluctuated between $62,413 and $63,935, showing an attempt to consolidate above an important level.
Ethereum (ETH) is currently moving sideways, trading at $1,780 (~137,017 rubles). However, among the top 10 by market capitalization, Hyperliquid stands out with an impressive daily growth of +3.90% and a weekly growth of +15.39%. All coins in the top ten are in the green zone over the last 24 hours and seven days.
Among the top 100 assets, the leader in daily growth is Lighter (+21.66%), and the weekly record belongs to MemeCore (+116.77%). At the same time, the asset "安定人生" showed the worst daily performance, losing 4.86%, while Jito fell by 11.46% over the week.
Morning Top News: Trump Token, AI Risks, and South Africa Taxes
Losses for holders of the Trump memecoin have reached $3.8 billion. Nansen analytics show that by the end of June, 988,905 buyers of Official Trump were at a loss — approximately two out of three. Only less than half a million wallets recorded profits totaling $4 billion. The picture is classic: a small group of early investors made a huge fortune, while retail players suffered colossal losses. The token, launched a few days before the inauguration in January 2025, soared above $73 but has since crashed by more than 97% and is currently trading around $1.70. A similar situation exists with World Liberty Financial: 85% of tracked wallets are in the red. Notably, Trump himself, according to his financial disclosure, earned over $630 million from the memecoin and about $800 million from the WLFI platform. This is a vivid example of how issuers profit from hype, leaving the mass investor holding the bag.
European regulators and bankers warn: the law is not keeping pace with AI. Bank of England Deputy Governor Sarah Breeden noted that agentic AI could amplify volatility during times of market stress. She questioned whether the market might need "circuit breakers" similar to those on exchanges, which would halt trading if AI models trigger a crash. ECB President Christine Lagarde called AI technology a "serious risk," especially in cybersecurity, as threats emerge instantly while protective measures have yet to be found. Earlier, similar concerns were voiced by the head of the UK financial regulator, Nikhil Rathi, and the Bank for International Settlements. The market is clearly entering an era where the speed of algorithms may outpace regulators' ability to respond.
The South African Revenue Service has proposed clarifications on the taxation of crypto assets. The draft relies on the Income Tax Act of 1962 and capital gains tax rules. Most crypto transactions — trading, exchanging, spending — are considered asset disposals and may trigger a tax event. A key element is the person's intention: it determines whether they are considered a trader or a long-term investor. Crypto is treated not as currency but as an intangible asset. If the rules are adopted, they will affect millions of users — according to 2024 data, at least 5.8 million residents of the country owned crypto. The draft is open for discussion until August 31 and is intended to bring clarity, not to impose new obligations.
My expert opinion: The morning shows a classic market picture, where individual assets exhibit strong volatility while the overall trend remains uncertain. The story of the Trump token is yet another reminder of the dangers of memecoins, where retail investors often become victims of insiders. Meanwhile, regulatory activity around AI and crypto taxes signals that the world is moving toward stricter control, which in the long term could both stabilize the market and limit its freedom.